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ETH/USD looks very interesting as we approach EQ of consolidation block. For a BitMex trade like this I use 10x leverage.
Multiple reasons for this entry-zone: 12hr 200-MA along with an overall 88.88 Fib, EQ of current consolidation block and an old swing-low.
$120.50 - $122
Reason for this target: EQ of upper consolidation block while taking out clean highs at 12hr 200-EMA.
$125.30 - $131.40 - $134.40 - $137.40 - $144.50
Reason for Stop-Loss: Possible SFP below previous wicks at these levels so I'd make use of an old low of a doji-candle.
$116
ETH/USD looks very interesting as we approach EQ of consolidation block. For a BitMex trade like this I use 10x leverage.
Multiple reasons for this entry-zone: 12hr 200-MA along with an overall 88.88 Fib, EQ of current consolidation block and an old swing-low.
$120.50 - $122
Reason for this target: EQ of upper consolidation block while taking out clean highs at 12hr 200-EMA.
$125.30 - $131.40 - $134.40 - $137.40 - $144.50
Reason for Stop-Loss: Possible SFP below previous wicks at these levels so I'd make use of an old low of a doji-candle.
$116
Comment:
Accuracy. Nothing to add here.